Quikr completes Zefo buy

With Quikr and Zefo as a combined entity, we will be able to offer a broader selection of products at even more competitive prices along with as strong a focus on quality, said Pranay Chulet, founder, Quikr.

OUR BUREAU|

Apr 26, 2019, 08.26 AM IST

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Zefo is an online marketplace that specializes in selling refurbished TVs, mobile phones and furniture.

BENGALURU: Online classifieds platform Quikr has acquired Sequoiabacked refurbished goods marketplace Zefo, in a bid to scale up its pre-owned goods business.
ET first reported on March 11 that Quikr has entered into a definitive agreement to acquire Zefo for ₹200 crore in an all-stock deal.

“With Quikr and Zefo as a combined entity, we will be able to offer a broader selection of products at even more competitive prices along with as strong a focus on quality,” said Pranay Chulet, founder, Quikr. The company said the acquisition was in line with its overall strategy of going deeper in key verticals, without disclosing the terms of the acquisition.

Zefo is an online marketplace that specializes in selling refurbished TVs, mobile phones and furniture. It specialized in quality check, repair, and refurbishment for products and has a portfolio of more than 10,000 products across these categories in four cities.

“Zefo promises a high-quality, hasslefree refurbished and pre-owned goods experience to both buyers and sellers. With this transaction, the capabilities we have built and the offerings we have honed can now be offered to Quikr’s large customer base,” said Rohit Ramasubramanian, CEO, Zefo.

Founded in 2015 by Arjit Gupta, Himesh Joshi, Karan Gupta and Rohit Ramasubramanian, Zefo was among the few bigger players in the second-hand refurbished products market.

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